Nomura Asset Management Co. Ltd. Lowers Stock Holdings in McKesson Co. (NYSE:MCK)

Nomura Asset Management Co. Ltd. decreased its stake in McKesson Co. (NYSE:MCK) by 0.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 198,087 shares of the company’s stock after selling 541 shares during the quarter. Nomura Asset Management Co. Ltd. owned approximately 0.16% of McKesson worth $112,892,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the company. Geode Capital Management LLC raised its holdings in McKesson by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 2,653,288 shares of the company’s stock valued at $1,306,873,000 after acquiring an additional 26,299 shares during the last quarter. Norges Bank purchased a new position in shares of McKesson during the 4th quarter worth approximately $1,200,361,000. Boston Partners boosted its position in shares of McKesson by 24.6% during the fourth quarter. Boston Partners now owns 1,096,301 shares of the company’s stock worth $625,501,000 after buying an additional 216,432 shares during the period. Nordea Investment Management AB grew its position in McKesson by 20.0% in the 4th quarter. Nordea Investment Management AB now owns 975,935 shares of the company’s stock valued at $558,606,000 after acquiring an additional 162,688 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of McKesson by 4.9% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 727,002 shares of the company’s stock valued at $359,444,000 after purchasing an additional 34,262 shares in the last quarter. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

McKesson Trading Up 0.5 %

Shares of NYSE MCK opened at $666.40 on Friday. The company has a market cap of $83.52 billion, a P/E ratio of 30.51, a P/E/G ratio of 1.29 and a beta of 0.52. The stock has a fifty day moving average price of $622.07 and a 200 day moving average price of $577.72. McKesson Co. has a 12-month low of $464.42 and a 12-month high of $670.79.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $8.60 by ($0.57). McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. On average, sell-side analysts forecast that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be issued a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 0.43%. The ex-dividend date of this dividend is Monday, March 3rd. McKesson’s dividend payout ratio (DPR) is presently 13.00%.

Insider Buying and Selling

In other McKesson news, EVP Leann B. Smith sold 188 shares of the company’s stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $609.59, for a total value of $114,602.92. Following the completion of the sale, the executive vice president now directly owns 1,051 shares in the company, valued at $640,679.09. This represents a 15.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Brian S. Tyler sold 8,961 shares of the company’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $600.66, for a total value of $5,382,514.26. Following the completion of the sale, the chief executive officer now owns 69,625 shares of the company’s stock, valued at approximately $41,820,952.50. This trade represents a 11.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,689 shares of company stock worth $11,187,351 over the last quarter. 0.11% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Evercore ISI upped their price target on McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Mizuho initiated coverage on shares of McKesson in a research note on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price objective for the company. Morgan Stanley raised their target price on shares of McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Citigroup dropped their price target on McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Finally, Wells Fargo & Company boosted their price objective on shares of McKesson from $641.00 to $691.00 and gave the company an “equal weight” rating in a research note on Friday, March 14th. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $649.36.

McKesson Profile

McKesson Corporation provides healthcare services in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, Prescription Technology Solutions (RxTS), Medical-Surgical Solutions, and International. The U.S. Pharmaceutical segment distributes branded, generic, specialty, biosimilar and over-the-counter pharmaceutical drugs, and other healthcare-related products.